European equity-linked revival continues with new Ubisoft CB

Ubisoft Entertainment, the French video games developer behind Far Cry and Assassins Creed, issued a five year €526m convertible bond, adding to the wave of issuance in Europe over the past fortnight.

There were over 150 lines in the book, according to a source close to the transaction. The strong levels of demand enabled Ubisoft to increase the deal from its initial €400m size and price the new zero coupon bond at a conversion premium of 65%, outside the initial
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